Tag: Million

Crypto finance startup Circle Internet Financial is reportedly looking to raise a further $250 million in funding. A report from The Information on Saturday, citing a source with knowledge of the matter, said that Circle is seeking to raise the funding via a combination of equity and debt financing. They added that the reason for the move is that the firm’s business has been affected by the prolonged cryptocurrency bear market. Circle has not confirmed the source’s claim, The Information said. The Goldman Sachs-backed firm has previously raised at least $246 million, according…

Ernst and Young (EY), the court-appointed monitor for QuadrigaCX, has finally provided blockchain addresses for the ailing crypto exchange’s cold, or offline, bitcoin wallets. And aside from $400,000 worth of bitcoin that was accidentally sent to the cold wallets in early February, they are empty, meaning $100 million of the cryptocurrency is still missing. EY released its third report on Quadriga late Friday, outlining the progress it has made since first being appointed monitor at the beginning of February. While certain details in the report were already public, such as EY’s…

Chinese miners are confident that crypto currencies provide a strong profit opportunity not only for mining even after Bitcoin suffered one of the most important falls in its history. According to an article published by the Chinese portal 8BTC, after many miners cancelled their operations due to the heavy losses caused by the bearish streak, a group of miners have decided to restart their operations with very good expectations about the future of the crypto market. One of those visionaries is Xu Feng, a miner from Ma’anshan, Anhui Province. The…

Global crypto exchange Bittrex led a $1.5 million seed round in South African trading platform VALR. Bittrex CEO Bill Shihara told CoinDesk the South African market has “tremendous untapped potential.” Fellow VALR investor Michael Jordaan of Montegray Capital told CoinDesk that VALR’s support for 50 cryptocurrencies will offer the most diverse range of assets of any African exchange when it opens to the public on March 1. “The VALR team has the potential to change the cryptocurrency landscape in South Africa and globally,” Jordaan said. VALR co-founder and CEO Farzam Ehsani…

Blockchain-based home equity loan startup Figure Technologies has raised $65 million in a Series B round backed by Morgan Creek. Announcing the news on Wednesday, Figure said the round was led by venture capital firms RPM Ventures and partners at DST Global, with Ribbit Capital, DCM Ventures, Digital Currency Group, Nimble Ventures and others also participating. The Series B investment brings the firm’s total equity funding to over $120 million, the firm said, adding that the new investment will go toward helping the firm strengthen its product offerings. Founded last…

Mobile payments firm Square has reported over $166 million in revenue from bitcoin sales last year. The company filed its financial results for Q4 2018 with the U.S. Securities and Exchange Commission (SEC) on Wednesday, disclosing that it made overall net revenue of $3.3 billion last year, 5 percent of which came from the cryptocurrency buying service within its Cash App. While bitcoin sales brought in precisely $166,517,000, the cost of purchasing the cryptocurrency for the year was about $165 million. That left the firm with a net profit from bitcoin sales…

Pangea Blockchain Fund has debuted its blockchain fund, securing $22 million with key investors including Bitcoin.com CEO Roger Ver, according to a press release on Feb. 27. Switzerland-based Pangea Blockchain Fund is targeting the development of transformative blockchain-driven solutions and expects the total fundraising to be capped at $200 million. The recent seed round was also participated in by Copernicus Asset Management, a financial services group based in Lugano, Switzerland. The company is licensed as a Swiss Authorized Asset Manager and also acts as an investment manager for Pangea’s fund.…

A cryptocurrency project that appears to have raised at least $20 million through a referral-based marketing scheme has been advertising false information about its team members, a CoinDesk investigation has found. Launched on Dec. 2, BHB claims to offer an ethereum-based solution for peer-to-peer lending, but by Jan. 18, local media reports were already accusing the project of operating an illegal pyramid scheme. Now, CoinDesk is able to reveal inconsistencies in the information provided about its founding team that further suggest something may be amiss at the China-based project. In particular,…

QuadrigaCX Exchange’s founder, Gerald Cotten, passed away more than two months ago, and with his death, the keys to the exchange’s cold storage allegedly went to the grave with him. This is the story that QuadrigaCX is sticking to in the posthumous mess that has followed its founder’s death. The situation has been likened to a second Mt. Gox, with some of the biggest differences being that we don’t know whether or not QuadrigaCX is solvent and there’s no hard evidence of foul play on behalf of the exchange. But…

Those questioning the blockchain projects for their underlying utility should look at EOS. The smart contracts platform recently paved its way into the working model of Tapatalk, a Reddit-like forum application. Per an announcement published February 21, Tapatalk will utilize the EOS blockchain to power its Gold Point reward system. The integration would allow Tapatalk to incentivize its users via EOS’ on-chain asset of the same name. The move could assist Tapatalk increase participation among its 300 million users while furthering the adoption of EOS among them. Winter Wong, the…

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